Bajaj Finserv Q1 Review - Elevated Provisioning, Higher Claims Impact Profit: ICICI Direct

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Direct Report.Bajaj Finserv Ltd.'s consolidated topline declined 2% YoY to Rs 13,949 crore, due to muted performance in lending business and higher re-insurance ceded.Elevated provisioning in lending business and higher Covid-19 claims impacted Bajaj Finserv's earnings, which fell 31% YoY to Rs 833 crore.In general insurance, gross written premium rose 9% YoY to Rs 2,494 crore. Growth in two-wheeler, four-wheeler remained strong at 23%, 10.3% YoY, respectively. On claims, frequency in motor own damage claims remained slower compared to Q1 FY21. Motor third party claims settlement stayed moderate owing to lockdown. .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Bajaj Finserv Q1 Review - Elevated Provisioning, Higher Claims Impact Profit: ICICI Direct

Bajaj Finserv Q1 Review - Elevated Provisioning, Higher Claims Impact Profit: ICICI Direct

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